AUSTRALIA: Bendon acquires three lingerie brands from Gazal
Lingerie brand Bendon today (11 October) announced plans to acquire three brands from Australian apparel supplier Gazal.
According to a statement on the Australian Stock Exchange, Bendon will acquire the Lovable, Davenport and Kissed by Lovable lines.
Bendon said the move follows its recent plans to merge with independent lingerie company Pleasure State, and will increase the company's intimate apparel brand portfolio from eight to 11.
According to Bendon CEO Justin Davis-Rice, the company has seized the opportunity to expand its portfolio of intimate apparel brands and remains acquisitive. "Bendon is in the best position to take advantage of the consolidation opportunities in the swimwear and intimate apparel market," he said.
Gazal said the divestments along with other recent sales will result in fewer businesses and a simpler structure, which will allow management to focus its efforts on driving further growth from its core continuing operations.
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